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DAro EnErgy 2013 AnnuAl rEporT
203
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 543
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of S Dollars, unless otherwise stated
20. FINANCE LEASE PAYABLES continued
The significant general terms and conditions of the finance leases are as follows: -
the Group is restricted from selling, lending, leasing, or otherwise disposing of or ceasing to exercise direct control over the leased assets;
- the Group is restricted from creating or allowing any encumbrance to all or any part of the leased assets; and
- all leased assets are pledged as collateral for the underlying finance lease payables.
21. LONG-TERM BANK LOANS
2013 2012
Syndicated Loan, net of unamortised financing cost of US503 2012: US794
186,997 286,706
Syndicated Bank Loan, net of unamortised financing cost of US8,921 2012: US11,052
258,079 308,948
US750,000 Facility Agreement, net of unamortised financing cost of US13,916 2012: US15,771
407,084 429,729
Amortising Revolving Credit Facility US500,000, net of unamortised financing cost of USnil2012: US3,404
- 376,596
US380,000 Facility Agreement, net of unamortised financing cost of US9,676 2012: USnil
352,324 -
US160,000 Facilities Agreement, net of unamortised financing cost of US3,365 2012: US3,988
141,635 156,012
PT Bank OCBC NISP Tbk, net of unamortised financing cost of USnil 2012: USnil
4,999 8,499
1,351,118 1,566,490
Less: Current portion
155,577 268,408
Non-current portion 1,195,541
1,298,082 The interest rates on the long-term bank loans are as follows:
2013 2012
US Dollars 1.8 - 4.6
1.8 - 4.8
a. Syndicated Loan
On 2 November 2007, Adaro and Coaltrade, as the Borrowers, entered into a syndicated loan facility agreement with several foreign banks the “Lenders”, which consisted of DBS Bank Ltd, Standard Chartered Bank Singapore
branch, Sumitomo Mitsui Banking Corporation Singapore branch “SMBC”, the Bank of Tokyo-Mitsubishi UFJ Ltd Singapore branch and United Overseas Bank Ltd Singapore and Labuan branch, for which DBS Bank Ltd acted as
the facility agent. Based on the agreement, the Lenders agreed to grant bank loan facilities of US750,000, of which Adaro and Coaltrade obtained facilities of US550,000 and US200,000, respectively. These facilities consisted of a
term loan facility of US650,000 and a revolving loan facility of US100,000 with interest at the London Interbank Offered Rate “LIBOR” plus a certain percentage. These facilities were used to refinance certain existing loans of
Adaro.
Based on the amended agreement dated 25 March 2010, the Company, IBT and the Borrowers collectively hereinafter referred to as the “Guarantors”, act as the guarantors of this syndicated loan.
204
IABlE, STrong, EFFICIEnT
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 544
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of S Dollars, unless otherwise stated
21. LONG-TERM BANK LOANS continued
a. Syndicated Loan continued
